Thanks for writing this article...it really can't be said enough. It is shameful how many PPCers neglect negative keywords and the search query report. It's almost as heinous, if not more so, than neglecting to setup conversion tracking.

I think it's a big mistake when one doesn't add geo-modified keywords to a campaign/ad group when it applies to the business. While geo-targeting corrects for this to some extent, I think it's important to have all bases covered.